Adani-Hindenburg saga raises concerns over exposure of LIC, public sector banks
1 year, 10 months ago

Adani-Hindenburg saga raises concerns over exposure of LIC, public sector banks

The Hindu  

Published : Mar 09, 2023 10:40 IST After the Hindenburg hit, as the stock values of the Adani group companies unwound from the clearly unwarranted highs to which they had risen, one concern was the impact this meltdown would have on financial investors exposed to Adani firms. First, how significantly would the loss resulting from the exposure to the Adani group affect the profitability and viability of these public financial institutions, with attendant systemic effects on the rest of the financial system and the economy? Even if it is true that this loss would not affect LIC much, since its total exposure to the Adani group estimated at book value is just 0.975 per cent of its assets under management, it presumably will reflect in the bonuses paid to investors. Kumar, Chairman of LIC, of the corporation’s Rs.30,000-plus crore exposure to the Adani group, around Rs.6,000 crore is in debt. There was no reason why the exposure of public financial institutions such as LIC to the Adani group should have kept pace with that growth.

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History of this topic

Rising geopolitical tensions, Adani ‘bribery’ case add to Indian market’s woes — expert advice
1 month, 2 weeks ago

Rising geopolitical tensions, Adani ‘bribery’ case add to Indian market’s woes — expert advice

Live Mint  

The current week brought a new wave of challenges stemming from both international and domestic political conflicts. However, this time, the intensifying rivalry between the BJP and Congress brought the Adani bribery case to the forefront, reported by the U.S. Department of Justice. The market showed resilience by the end of the week, signalling that domestic political turmoil is unlikely …

LIC loses nearly ₹12,000 crore in seven Adani shares in a day on Gautam Adani’s civil indictment news. Here’s how
1 month, 2 weeks ago

LIC loses nearly ₹12,000 crore in seven Adani shares in a day on Gautam Adani’s civil indictment news. Here’s how

Live Mint  

Adani Group Stocks: Life Insurance Corporation of India, the country’s largest domestic institutional investor, saw its holdings in seven Adani stocks drop by nearly ₹12,000 crore following a sharp decline in group shares. According to a Reuters report, U.S. authorities said Adani and seven other defendants, including his nephew Sagar Adani, agreed to pay about $265 million in bribes to …

Adani Group stocks nosedive after US indictment over alleged bribery, investor fraud
1 month, 2 weeks ago

Adani Group stocks nosedive after US indictment over alleged bribery, investor fraud

New Indian Express  

The allegations also include bids to obstruct justice by deleting electronic evidence and misleading the Justice Department, the Securities and Exchange Commission, and the FBI. Its key lenders include State Bank of India, ICICI Bank, Axis Bank, Yes Bank, IndusInd Bank, IDFC First Bank, Bank of India, RBL Bank, Central Bank of India, Union Bank of India, IDBI Bank and …

Adani Group rocked by Hindenburg allegations against SEBI
4 months, 4 weeks ago

Adani Group rocked by Hindenburg allegations against SEBI

Al Jazeera  

Adani Group’s stock value plunged by nearly $150bn after Hindenburg Research’s first report in January 2023. Adani Group, the Indian conglomerate rocked by a Hindenburg Research report last year, has faced another heavy share selloff after the short seller accused the head of India’s market regulator of having links to offshore funds also used by the group. Buch said the …

Adani, a Year Later: Investors Are Embracing India’s Humbled Champion
11 months, 1 week ago

Adani, a Year Later: Investors Are Embracing India’s Humbled Champion

Live Mint  

A year ago Adani Group, India’s infrastructure poster child, lost over $100 billion in market value in a matter of days following the publication of a short-seller report. Adani Enterprises, the group’s flagship, has clawed back 90% of the market value it had lost since Hindenburg’s report, alleging stock manipulation and accounting fraud, was published on Jan. 24, 2023. Gross …

On anniversary of Hindenburg report, Gautam Adani says group has emerged stronger
11 months, 2 weeks ago

On anniversary of Hindenburg report, Gautam Adani says group has emerged stronger

The Hindu  

A year after a damning report by a U.S. short seller ripped through his apples-to-airport conglomerate, billionaire Gautam Adani on Thursday said the "trials and tribulations" of the past year have made the Adani group stronger as it continued on growth path, improving asset base and launching key projects, including the Dharavi redevelopment. "This period marked the launch of several …

India’s Adani gets top court relief on further probe over Hindenburg report
1 year ago

India’s Adani gets top court relief on further probe over Hindenburg report

Al Jazeera  

Indian agency was probing the group after Hindenburg Research last year alleged the improper use of tax havens and stock manipulation. India’s Supreme Court says the Adani Group does not need to face more investigations beyond the current scrutiny of the market regulator, a major relief for the conglomerate hit hard by a United States-based shortseller’s allegations of wrongdoing. Though …

LIC loses more than ₹1,400 crore in six Adani stocks in a day; details here
1 year, 4 months ago

LIC loses more than ₹1,400 crore in six Adani stocks in a day; details here

Live Mint  

Adani News today: Nine out of ten Adani stocks on Thursday closed in the red following fresh allegations made by the Organised Crime and Corruption Reporting Project that the Adani Group's family associates invested millions of dollars through "opaque" Mauritius funds in its own firms. Table: Losses borne by LIC on Thursday due to fall in Adani stocks Company name …

Adani family's partners used 'opaque' funds to invest in its stocks: Report
1 year, 4 months ago

Adani family's partners used 'opaque' funds to invest in its stocks: Report

Hindustan Times  

Millions of dollars were invested in some publicly traded stocks of India's Adani Group via "opaque" Mauritius funds that "obscured" involvement of alleged business partners of the Adani family, the Organised Crime and Corruption Reporting Project said in an article on Thursday. The OCCRP article comes after U.S.-based short-seller Hindenburg Research in January accused Adani Group of improper business dealings, …

What has India’s Adani Group now been accused of?
1 year, 4 months ago

What has India’s Adani Group now been accused of?

Al Jazeera  

Investigative reporters network says it has documents backing Hindenburg’s claims that Adani Group used offshore tax havens to drive up share price. Citing a review of files from multiple tax havens and internal Adani Group emails, the Organised Crime and Corruption Reporting Project said on Thursday that two individual investors – Nasser Ali Shaban Ahli from Dubai and Chang Chung-Ling …

As LIC reports 447.5% growth in Q4 consolidated PAT, read how Rahul Gandhi and ‘journalists’ had accused the Modi govt of ‘killing’ India’s largest insurer
1 year, 7 months ago

As LIC reports 447.5% growth in Q4 consolidated PAT, read how Rahul Gandhi and ‘journalists’ had accused the Modi govt of ‘killing’ India’s largest insurer

Op India  

On May 24, India’s largest life insurer LIC reported an impressive growth for the fourth quarter of Financial Year 2022-23. — Rahul Gandhi May 18, 2023 Opposition, journalists and liberals attack Modi govt over alleged LIC losses For Congress Party, Rahul Gandhi became the frontrunner to attack the Modi government over LIC market share and its holdings in Adani Group …

LIC plans investment exposure caps post Adani share rout: Report
1 year, 9 months ago

LIC plans investment exposure caps post Adani share rout: Report

Live Mint  

NEW DELHI: The Life Insurance Corp. of India is planning to impose caps on its debt and equity exposure to companies, two sources said, in a bid to lower concentration of risk following criticism of its investment in Adani group companies. After the Adani group lost over $100 billion in valuation post scathing allegations by U.S.-based Hindenburg Research, state-run LIC …

How have Adani Group’s stocks behaved over the last month? - The Hindu
1 year, 10 months ago

How have Adani Group’s stocks behaved over the last month? - The Hindu

The Hindu  

Since January 24 when Hindenburg Research released a report alleging that the Adani Group had indulged in stock manipulation and other misdemeanours, much water has flowed under the bridge. Sure enough, the Adani Group has cut its growth estimates from 40% to 15-20% for the coming year, according to a Bloomberg report, which added that the group had also deferred …

One month to Hindenburg report: Adani Group loses over 12 lakh crore market cap
1 year, 10 months ago

One month to Hindenburg report: Adani Group loses over 12 lakh crore market cap

Hindustan Times  

Adani Group, whose stock exchange valuation outperformed Mukesh Ambani's Reliance and Ratan Tata's TCS, has lost over 12 lakh crore in a month since the Hindenburg report alleging "brazen stock manipulation and accounting fraud" was published. This represents a loss of more than ₹12 lakh crore from a market value of approximately ₹19.2 lakh crore on January 24, when Hindenburg …

' ₹3,200 cr loss for LIC so far…': Mahua Moitra's jab on Adani stocks' report
1 year, 10 months ago

' ₹3,200 cr loss for LIC so far…': Mahua Moitra's jab on Adani stocks' report

Hindustan Times  

Trinamool MP Mahua Moitra has pressed finance minister Nirmala Sitharaman for answers over state-run Life Insurance Corporation's exposure to the embattled Adani Group, flagging a news report that said the value of its holding in Adani companies had - for the first time - dropped below the purchase price by nearly 11 per cent to settle at less than ₹27,000 …

Hindenburg rout: LIC’s ₹30,000 crore investment in Adani stocks in a loss
1 year, 10 months ago

Hindenburg rout: LIC’s ₹30,000 crore investment in Adani stocks in a loss

Live Mint  

Led by the heavy sell-off in Adani Group stocks, state-run insurance giant Life Insurance Corporation of India's investments made in the group companies have turned negative as its investment value in the listed group stocks stood at nearly ₹27,000 crore, as of closing on February 23, as per data analysed from stake held by the insurance firm as per the …

Adani isn’t India, but its troubles mirror the nation’s woes
1 year, 10 months ago

Adani isn’t India, but its troubles mirror the nation’s woes

Live Mint  

A New York short seller has forced India to stare at a reflection of its long-simmering frustration with shabby, inadequate infrastructure and its impatient urge to fill the gaps overnight. The target of Hindenburg Research’s attack is the Adani Group, which aggressively marshaled capital from around the world into India’s unmet aspirations. But even those who refuse to equate Adani …

‘Hum Adani ke Hai Kaun’; Congress MP takes a dig at PM Modi
1 year, 10 months ago

‘Hum Adani ke Hai Kaun’; Congress MP takes a dig at PM Modi

The Hindu  

Congress MP, Saptagiri Sankar Ulaka said the people of India want to know how one group with doubtful credentials and alleged links with tax haven-operated offshore shell companies was monopolising the assets of India, and all the government agencies were either missing from the action or facilitating that very process. Mr. Ulaka, who was speaking to reporters here as a …

Adani Group clarifies, terms reports of hiring Grant Thornton as ‘market rumour’
1 year, 10 months ago

Adani Group clarifies, terms reports of hiring Grant Thornton as ‘market rumour’

Op India  

On Thursday, Adani enterprises issued a statement to the stock exchange confirming that it had not hired accountancy firm Grant Thornton for an independent audit of some of its companies. On February 14, several reports indicated that the Adani Group hired accounting firm Grant Thornton to conduct independent audits of several of its subsidiaries in an effort to refute charges …

The Adani story and Indian neoliberalism
1 year, 10 months ago

The Adani story and Indian neoliberalism

The Hindu  

A strike on the Adani group by short-seller the U.S.-based Hindenburg Research has led to the unravelling of the Gautam Adani story, which celebrated the spectacular rise, in an extremely short period of time, of the wealth of a man and his business empire. Much of that wealth disappeared following a crash in the stock values that shaved more than …

Total exposure of five State-run general insurers in Adani group at ₹347 crore: MoS Finance Bhagwat Karad
1 year, 10 months ago

Total exposure of five State-run general insurers in Adani group at ₹347 crore: MoS Finance Bhagwat Karad

The Hindu  

Five State-run general insurance companies have a total exposure of ₹347.64 crore, or 0.14% of their total assets under management, in Adani group of companies, Finance Ministry said on February 13. In reply to a question on details of money lent by banks and financial institutions to the Adani group, the Minister of State for Finance Bhagwat Karad said in …

India’s Adani tries to pacify investors as watchdog probes report
1 year, 10 months ago

India’s Adani tries to pacify investors as watchdog probes report

Al Jazeera  

Adani group’s seven listed stocks have together lost about $120bn in market value since a US short-seller has raised concerns. Led by billionaire businessman Gautam Adani, the group’s seven listed stocks have together lost about $120bn in market value since a January 24 report by United States-based short-seller Hindenburg Research accused it of improper use of offshore tax havens and …

Hindenburg-Adani saga | Centre drafting response to SC, says Finance Minister
1 year, 10 months ago

Hindenburg-Adani saga | Centre drafting response to SC, says Finance Minister

The Hindu  

Finance Minister Nirmala Sitharaman signalled on Saturday, February 11, that the government was drafting a response to the Supreme Court’s concerns about the meltdown in Adani group stocks in the wake of a research report published by US-based short seller Hindenburg Research. Ms. Sitharaman emphasised that the country’s “experienced” regulators were already seized of the matter and were always “on …

The Adani cloud over India
1 year, 10 months ago

The Adani cloud over India

Al Jazeera  

The recent set of allegations have raised questions about the tycoon’s meteoric rise and the role of regulators. The report, titled Adani Group: How The World’s 3rd Richest Man Is Pulling The Largest Con In Corporate History, said the group was involved in “brazen stock manipulation and accounting fraud”. Hindenburg’s report came just as the 200 billion rupees follow-on public …

Left-leaning unions urge Kharge to reconsider protests in front of LIC offices
1 year, 11 months ago

Left-leaning unions urge Kharge to reconsider protests in front of LIC offices

The Hindu  

Leaders of two Left-leaning and two independent unions working among the employees of Life Insurance Corporation of India have written to Congress president Mallikarjun Kharge urging him to reconsider the decision to hold protests in front of the LIC offices on the issue of Hindenburg report against the Adani Group. In the letter to Mr. Kharge, the Federation of LIC …

Adani Group mulls independent review after Hindenburg’s criticism
1 year, 11 months ago

Adani Group mulls independent review after Hindenburg’s criticism

Live Mint  

Adani Group is considering independent assessment into the issues of related party transactions, and others made by US shirt seller Hindenburg, according to the filings. Adani Group-led by Gautam Adani has been facing the heat after US short seller Hindenburg Research accused the Adani Group of 'brazen stock manipulation and accounting fraud scheme over the course of decades.' "We draw …

Moody's says bank exposure to Adani limited, to not affect credit quality
1 year, 11 months ago

Moody's says bank exposure to Adani limited, to not affect credit quality

Hindustan Times  

Moody's Investor Service on Tuesday said banks' exposures to Adani are not large enough to affect their credit quality materially. "While we estimate that the exposures are larger for public sector banks than for private sector banks, they are smaller than 1 per cent of total loans for most banks," it said. "Risks for banks can increase if Adani becomes …

LIC holds under 1% stake in equity, debt in Adani Group: Govt tells Parliament
1 year, 11 months ago

LIC holds under 1% stake in equity, debt in Adani Group: Govt tells Parliament

Hindustan Times  

State-owned Life Insurance Corporation of India holds less than 1% stake in both equity and debt in the Adani Group, the government told Parliament on Tuesday. The group faced a rout of share prices of its listed firms after US-based short seller Hindenburg Research in January accused it of “brazen stock manipulation” and “accounting fraud” via “a vast labyrinth of …

‘Hum Adani Ke Hain Kaun’: Cong's fresh questionnaire to Modi govt
1 year, 11 months ago

‘Hum Adani Ke Hain Kaun’: Cong's fresh questionnaire to Modi govt

Hindustan Times  

The Congress on Monday escalated attack on the Narendra Modi government over the Adani-Hindenburg row. Indian Youth Congress activists protest over the impact on LIC and SBI investors due to Adani row, at Jantar Mantar in New Delhi on Monday Hitting out at Prime Minister Narendra Modi, the Congress said,“Pradhan Sevak won't break his silence." Raking up the previous fraud …

Another plea in SC seeking panel to probe into Hindenburg report
1 year, 11 months ago

Another plea in SC seeking panel to probe into Hindenburg report

Deccan Chronicle  

NEW DELHI: Another plea has been moved in the Supreme Court seeking to constitute a Committee under the monitoring of the retired Supreme Court judge to investigate the Hindenburg Research report. Hence the petitioner sought to issue directions to the Centre to constitute a Committee under the monitoring of the retired Supreme Court judge in the interest of "Nation's dignity …

Adani sell-off continues amid protests by India’s opposition
1 year, 11 months ago

Adani sell-off continues amid protests by India’s opposition

Al Jazeera  

Seven listed Adani Group firms see a sell-off worth $112bn in under two weeks as the opposition widens protests. Legislators of India’s main opposition party have kicked off protests at some state-run companies over the crisis at Adani Group, whose seven listed firms saw another sell-off that drove their market loss to $112bn in less than two weeks. Members of …

No systemic risk to Indian financial system: Kotak amid Adani Group’s stock rout
1 year, 11 months ago

No systemic risk to Indian financial system: Kotak amid Adani Group’s stock rout

Live Mint  

Kotak Mahindra Bank Managing Director Uday Kotak doesn't see any systemic risk to the Indian financial system, despite recent dramatic stock falls in Adani Group companies. “This creates challenges and vulnerabilities,” Kotak noted in a Twitter post on Sunday, adding, “Time to further strengthen Indian underwriting and capacity building.” His tweet comes amid a sharp sell-off in Adani Group companies …

SBI, LIC Assured Exposure to Adani Group Well within Permissible Limits: Finance Minister
1 year, 11 months ago

SBI, LIC Assured Exposure to Adani Group Well within Permissible Limits: Finance Minister

News 18  

The last full budget before the 2024 Lok Sabha elections has focused on inclusive growth, fiscal consolidation, infrastructure spending, green growth, empowerment of women and the youth, and a strong financial sector. The final but most important I would think is the way we are going to shake up and also give life to the self-help women’s group which exists …

Well, within limit…: Nirmala Sitharaman on LIC, SBI exposure in Adani group firms
1 year, 11 months ago

Well, within limit…: Nirmala Sitharaman on LIC, SBI exposure in Adani group firms

Live Mint  

Amid the Adani group crisis, finance minister Nirmala Sitharaman defended India's financial sector stating that it is ‘very well regulated’ and referring to the recent controversy around the Indian conglomerate she added, ‘one instance, no matter how much it is talked about globally, is not going to be indicative of how well Indian financial markets have been governed’. Commenting on …

‘What is govt's role in Adani case?’: Jethmalani; Harish Salve says, 'Nobody happy that...'
1 year, 11 months ago

‘What is govt's role in Adani case?’: Jethmalani; Harish Salve says, 'Nobody happy that...'

Hindustan Times  

Senior advocate and BJP Rajya Sabha member Mahesh Jethmalani on Friday asked what the government has to do with the Adani wrongdoing, if any, that the opposition has been demanding a joint parliamentary committee probe into it. They have decided to make some investments," Jethmalani said adding that if there is any wrongdoing by the Adani Group, then Sebi and …

Adani crash stalls Parliament; Opposition seeks JPC probe
1 year, 11 months ago

Adani crash stalls Parliament; Opposition seeks JPC probe

The Hindu  

Parliament failed to function on Thursday, in the face of persistent demands by the Opposition for a debate on the high exposure of public financial institutions – mainly the State Bank of India and the Life Insurance Corporation -- to the Adani group, and the impact on them following the Hindenburg report alleging round-tripping of money by the group. United …

Hindenburg’s masterclass on globalization hit Adani’s FPO
1 year, 11 months ago

Hindenburg’s masterclass on globalization hit Adani’s FPO

Live Mint  

Without even betting a single dollar in any Indian market, a New York short-seller managed to torpedo India’s most prestigious share sale, dimming the aura around its sponsoring tycoon. When Hindenburg published its report last week, accusing Adani of pulling “the largest con in corporate history,” and disclosing bets that it had taken against the group via US-traded bonds and …

RBI said to seek details of banks’ exposure to Adani Group
1 year, 11 months ago

RBI said to seek details of banks’ exposure to Adani Group

The Hindu  

The Reserve Bank of India has sought details from banks regarding their exposure to the Adani Group, banking sources said, a day after the conglomerate withdrew the ₹20,000-crore follow-on public offer of Adani Enterprises amid the steep fall in its share price. On Wednesday, Swiss lender Credit Suisse stopped accepting bonds by Adani Group companies as collaterals for margin lending. …

LIC, SBI Life Insurance among top losers, Adani Group stocks tumble
1 year, 11 months ago

LIC, SBI Life Insurance among top losers, Adani Group stocks tumble

Hindustan Times  

Indian shares reversed earlier gains to trade lower on Wednesday, led by a fall in insurance companies after the country's Union budget proposed to limit tax exemptions for insurance proceeds, while Adani Group shares tumbled. Indian insurance companies were top losers post budget, with HDFC Life, SBI Life Insurance, ICICI Prudential Life Insurance Co, Life Insurance of India, General Insurance …

Gautam Adani no longer among world’s top 10 richest people
1 year, 11 months ago

Gautam Adani no longer among world’s top 10 richest people

The Hindu  

Indian tycoon Gautam Adani has slipped out of the list of the world’s top 10 richest people following a rout in company share prices in the aftermath of the U.S.-based short seller Hindenburg Research’s report. Adani Group stocks have taken a beating on the bourses after Hindenburg in a report made a litany of allegations, including fraudulent transactions and share …

Total exposure to Adani group stocks at 0.975%, says LIC
1 year, 11 months ago

Total exposure to Adani group stocks at 0.975%, says LIC

Live Mint  

Insurance behemoth Life Insurance Corporation of India on Monday said it has 0.975 per cent of its total assets under management at book value in Adani Group companies. It said the total purchase value of equity under all Adani group companies is Rs. "The total purchase value of equity, purchased over the last many years, under all the Adani group …

LIC Clarifies On Equity Exposure In Adani Group, Owns Less Than 1 Per Cent Of Total AUM
1 year, 11 months ago

LIC Clarifies On Equity Exposure In Adani Group, Owns Less Than 1 Per Cent Of Total AUM

ABP News  

State-owned insurer Life Insurance Corporation on Monday clarified that the firm's total exposure in Adani Group companies is less than 1 per cent of LIC's total assets under management at book value. In a press release, LIC said that its exposure to Adani Group of companies in the equity and debt segments is Rs 35,917.31 crores as of December 31, …

LIC reviews Adani’s response to Hindenburg, plans to meet group’s management
1 year, 11 months ago

LIC reviews Adani’s response to Hindenburg, plans to meet group’s management

Live Mint  

India's Life Insurance Corporation on Monday revealed that they are reviewing Adani Group's over 400-page response to allegations raised by Hindenburg Research. Further, Kumar said, "of course, we are studying the 413-page reply given by Adani Group," adding, "we will The US short-seller has accused Gautam Adani's group of stock manipulation, fraud schemes, high debt levels, and the use of …

LIC reviews Adani response to Hindenburg's allegation
1 year, 11 months ago

LIC reviews Adani response to Hindenburg's allegation

The Hindu  

State-run Life Insurance Corporation, India's largest insurer, is reviewing Adani Group's response to scathing criticism by a U.S. short-seller and will hold talks with the group's management within days. LIC has invested more than $4 billion in the group, which has lost about $66 billion since Hindenburg Research flagged concerns early last week about the business house's debt levels and …

As Adani-Hindenburg battle intensifies, stock market rout hits $72 billion
1 year, 11 months ago

As Adani-Hindenburg battle intensifies, stock market rout hits $72 billion

The Hindu  

Published : Jan 30, 2023 15:25 IST Billionaire Gautam Adani’s vast Indian business empire lost billions of dollars more in value on January 30 after its rejection of claims of widespread fraud failed to reassure investors. Adani responds to Hindenburg report Adani’s conglomerate said it was the victim of a “maliciously mischievous” reputational attack and on January 29 issued a …

LIC claims multibagger return from its investments in Adani stocks, bonds
1 year, 11 months ago

LIC claims multibagger return from its investments in Adani stocks, bonds

Live Mint  

Despite heavy sell-off in Adani Enterprises shares and other Adani stocks after the Hindenburg Research report raising concern over debt positioning of Adani group companies, the Life Insurance Corporation of India has claimed it has almost doubled its wealth invested in Adani group asset investments over the period. LIC shareholding in Adani group stocks As per the latest shareholding data …

Adani-Hindenburg saga continues: Fraud cannot be obfuscated by nationalism, Adani response ignores key questions, says Hindenburg
1 year, 11 months ago

Adani-Hindenburg saga continues: Fraud cannot be obfuscated by nationalism, Adani response ignores key questions, says Hindenburg

The Hindu  

A day after the Gujarat based Adani Group in a detailed rebuttal described the US short seller’s report as a “calculated attack on India,” the Hindenburg Research on Monday hit back at Adani saying “fraud cannot be obfuscated by nationalism…” In the latest round of ripostes, US based short seller Hindenburg and Gujarat based conglomerate Adani have accused each other …

'Fraud cannot be obfuscated by nationalism': Hindenburg's response to Adani
1 year, 11 months ago

'Fraud cannot be obfuscated by nationalism': Hindenburg's response to Adani

Hindustan Times  

Fraud cannot be obfuscated by nationalism or a bloated response that ignores every key allegation we raised, Hindenburg Research said on Monday hours after Gautam Adani group likened the damaging allegations by the US short seller to a “calculated attack” on India. The US-based investment research firm said the Adani Group “predictably tried to lead the focus away from substantive …

Hindenburg Research report an attack on India and its independent institutions, says Adani Group
1 year, 11 months ago

Hindenburg Research report an attack on India and its independent institutions, says Adani Group

The Hindu  

Ahmedabad-based Adani Group on Sunday night issued a detailed rebuttal to the allegations of “stock manipulation and accounting malpractices” levelled by U.S.- based short seller Hindenburg Research, dismissing all allegations and calling the Hindenburg report as an “attack on India and its independent institutions”. Editorial | Warning bells: On the Adani saga In a 413-page rejoinder issued before markets open …

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